Debt limit will likely stick until May 19

The White House Tuesday welcomed signals by Republican leaders in the House of Representatives that they aim to pass an extension of the debt limit until May 19, saying the move defuses fears of a damaging debt default.

White House spokesman Jay Carney said in a briefing that the Obama administration believed the debt limit should be raised over the longer term instead of in incremental steps, but the shift by House Republicans was a positive sign.